Points on a firm's total product curve are
A) both attainable and technologically efficient.
B) neither attainable nor technologically efficient.
C) attainable but not technologically efficient.
D) technologically efficient but not attainable.
A
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Despite dramatic increases in trackage during the antebellum period, the U.S. was slow to develop an integrated railroad system. This was primarily due to
a. the opposition of municipal governments to railroads. b. the opposition of the federal government to railroads. c. the failure to adopt a standard gauge for track. d. heavy taxes on railroad companies.
Society can operate on the production possibilities curve only if it has achieved efficiency.
a. true b. false
What is deadweight loss? Whose loss is it? Explain
What will be an ideal response?
Refer to the information given in Table 16.6 below to answer the question that follows.
Table 16.6
Refer to Table 16.6. Assume that the marginal cost of hiring a police officer is $100. If A and B are the only two people in the society, the optimal number of police officers is
A. 1. B. 2. C. 3. D. indeterminate from this information.